Glen Burnie Bancorp (Glen Burnie Bancorp) Beneish M-Score : -71.85 (As of Apr. 27, 2024)

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What is Glen Burnie Bancorp Beneish M-Score?

Note: Financial institutions were excluded from the sample in Beneish paper when calculating Beneish M-Score. Thus, the prediction might not fit banks and insurance companies.

The zones of discrimination for M-Score is as such:

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Good Sign:

Beneish M-Score -71.85 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Glen Burnie Bancorp's Beneish M-Score or its related term are showing as below:

GLBZ' s Beneish M-Score Range Over the Past 10 Years
Min: -71.85 Med: -2.57 Max: -1.52
Current: -71.85

During the past 13 years, the highest Beneish M-Score of Glen Burnie Bancorp was -1.52. The lowest was -71.85. And the median was -2.57.

Glen Burnie Bancorp Beneish M-Score Calculation

The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.

The M-Score Variables:

The M-score of Glen Burnie Bancorp for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 * 1.1373

0.528 * 1

0.404 * 1.0308

0.892 * 0.9961

0.115 * 6.1898

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 1.0603

4.679 * 8.5E-5

0.327 * 215.3359

-71.85

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

This Year (Dec23) TTM:

Last Year (Dec22) TTM:

Total Receivables was $1.31 Mil.
Revenue was 2.872 + 3.257 + 3.351 + 3.422 = $12.90 Mil.
Gross Profit was 2.872 + 3.257 + 3.351 + 3.422 = $12.90 Mil.
Total Current Assets was $155.98 Mil.
Total Assets was $351.81 Mil.
Property, Plant and Equipment(Net PPE) was $3.05 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.12 Mil.
Selling, General, & Admin. Expense(SGA) was $7.37 Mil.
Total Current Liabilities was $30.00 Mil.
Long-Term Debt & Capital Lease Obligation was $0.00 Mil.
Net Income was 0.167 + 0.551 + 0.276 + 0.435 = $1.43 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = $0.00 Mil.
Cash Flow from Operations was 0.571 + -0.023 + 0.621 + 0.23 = $1.40 Mil.

Total Receivables was $1.16 Mil.
Revenue was 3.548 + 3.35 + 3.043 + 3.011 = $12.95 Mil.
Gross Profit was 3.548 + 3.35 + 3.043 + 3.011 = $12.95 Mil.
Total Current Assets was $175.38 Mil.
Total Assets was $381.44 Mil.
Property, Plant and Equipment(Net PPE) was $3.28 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.99 Mil.
Selling, General, & Admin. Expense(SGA) was $6.98 Mil.
Total Current Liabilities was $0.15 Mil.
Long-Term Debt & Capital Lease Obligation was $0.00 Mil.

1. DSRI = Days Sales in Receivables Index

Measured as the ratio of Revenue in Total Receivables in year t to year t-1.

A large increase in DSR could be indicative of revenue inflation.

DSRI	=	(Receivables_t / Revenue_t)	/	(Receivables_t-1 / Revenue_t-1)
	=	(1.313 / 12.902)	/	(1.159 / 12.952)
	=	0.101767	/	0.089484
	=	1.1373

2. GMI = Gross Margin Index

Measured as the ratio of gross margin in year t-1 to gross margin in year t.

Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.

GMI	=	GrossMargin_t-1	/	GrossMargin_t
	=	(GrossProfit_t-1 / Revenue_t-1)	/	(GrossProfit_t / Revenue_t)
	=	(12.952 / 12.952)	/	(12.902 / 12.902)
	=	1	/	1
	=	1

3. AQI = Asset Quality Index

AQI is the ratio of asset quality in year t to year t-1.

Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.

AQI	=	(1 - (CurrentAssets_t + PPE_t) / TotalAssets_t)	/	(1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1)
	=	(1 - (155.981 + 3.046) / 351.813)	/	(1 - (175.384 + 3.277) / 381.436)
	=	0.547979	/	0.531609
	=	1.0308

4. SGI = Sales Growth Index

Ratio of Revenue in year t to sales in year t-1.

Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.

SGI	=	Sales_t	/	Sales_t-1
	=	Revenue_t	/	Revenue_t-1
	=	12.902	/	12.952
	=	0.9961

5. DEPI = Depreciation Index

Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.

DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.

DEPI	=	(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1))	/	(Depreciation_t / (Depreciaton_t + PPE_t))
	=	(0.994 / (0.994 + 3.277))	/	(0.119 / (0.119 + 3.046))
	=	0.232732	/	0.037599
	=	6.1898

Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.

6. SGAI = Sales, General and Administrative expenses Index

The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.

SGA expenses index > 1 means that the company is becoming less efficient in generate sales.

SGAI	=	(SGA_t / Sales_t)	/	(SGA_t-1 /Sales_t-1)
	=	(7.371 / 12.902)	/	(6.979 / 12.952)
	=	0.571307	/	0.538836
	=	1.0603

7. LVGI = Leverage Index

The ratio of total debt to Total Assets in year t relative to yeat t-1.

An LVGI > 1 indicates an increase in leverage

LVGI	=	((LTD_t + CurrentLiabilities_t) / TotalAssets_t)	/	((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1)
	=	((0 + 30) / 351.813)	/	((0 + 0.151) / 381.436)
	=	0.085273	/	0.000396
	=	215.3359

8. TATA = Total Accruals to Total Assets

Total accruals calculated as the change in working capital accounts other than cash less depreciation.

TATA	=	(IncomefromContinuingOperations_t	-	CashFlowsfromOperations_t)	/	TotalAssets_t
	=	(NetIncome_t - NonOperatingIncome_t	-	CashFlowsfromOperations_t)	/	TotalAssets_t
	=	(1.429 - 0	-	1.399)	/	351.813
	=	8.5E-5

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Glen Burnie Bancorp has a M-score of -71.85 suggests that the company is unlikely to be a manipulator.

Glen Burnie Bancorp Beneish M-Score Related Terms

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Glen Burnie Bancorp (Glen Burnie Bancorp) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » Glen Burnie Bancorp (NAS:GLBZ) » Definitions » Beneish M-Score

Comparable Companies

Traded in Other Exchanges

N/A

Address

101 Crain Highway, S.E., Glen Burnie, MD, USA, 21061

Website

https://www.thebankofglenburnie.com

Glen Burnie Bancorp is a bank holding company for The Bank of Glen Burnie. It offers retail and commercial banking services such as checking, savings, loans, mobile banking, online banking, wire transfer, ACH services, debit card, automated teller machines, and safe deposit boxes among others. The bank generates its revenue in the form of interest income. All of the revenues are earned within the United States.

Executives

Mary L Wilcox	director	711 MAYO RD, GLEN BURNIE MD 21061
Julie M Mussog	director	1105 MIAMI AVENUE, ANNAPOLIS MD 21403
Stanford Hess	director	43 RIVER OAKS CIRCLE, BALTIMORE MD 21208
Joan Rumenap	director	115 1ST AVENUE, SW, GLEN BURNIE MD 21061
Harrison Norman E Jr	director	1 BARNABY COURT, TIMONIUM MD 21093
John D. Long	director, officer: Executive Vice President	101 CRANE HIGHWAY, S.E., GLEN BURNIE MD 21061
Edward L Maddox	director	323 ARBOR OAKS CT., MILLERSVILLE MD 21108
John Melvin Wright	officer: CFO	1301 MERRITT BOULEVARD, DUNDALK MD 21222
Kuethe F William Jr	director, officer: President	101 CRAIN HIGHWAY SE, GLEN BURNIE MD 21061
John E Demyan	director	101 CRAIN HWY SE, GLEN BURNIE MD 21061
Andrew Cooch	director	101 CRAIN HIGHWAY SE, GLEN BURNIE MD 21061
Karen B Thowarth	director	201 THIRD AVE SW, GLEN BURNIE MD 21061
Edward B Connelly	officer: COO	207 SANFORD AVENUE, CATONSVILLE MD 21228
Scherer William N Sr	director	24 CRAIN HIGHWAY SW, GLEN BURNIE MD 21061
Joyce Ann Ohmer	officer: Senior Vice President	300 COUNCIL OAK DRIVE, SEVERN MD 21144